Professional Gambling

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for any losses incurred from the info provided.

This book was written to help you make a profit from gambling, although I have madeevery effort to provide you with solid information, gambling is risky and it is possible

to lose money doing so.

Only bet what you can afford to lose.

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Thank You for purchasing my guide to professional gambling, I hopeYou find it informative and profitable.

The first question that springs to mind when somebody mentions gambling andProfessional in the same sentence is – can it be done? Can we actually make a decentLiving from gambling?

The true answer to this (and there are 2) is yes and no.

You will understand what I mean as you read through this book. You will also learnwhat separates the winners from the losers and the key elements that will make you aprofessional gambler.

The first point I must make very clear is the fact that there is no such thing as aprofessional gambler. The small percentage of people who do actually make a livingthrough betting never actually gamble, they invest.

If you walk into a casino and start betting, you are ‘gambling’ and you will nevermake a living in a casino (not legally anyway). Gambling is when you take a risk, andyou are always taking a risk in a casino because the odds are against you, thereforerelying on luck to make money. If you toss a coin for a bet, you are gambling becausethe odds are 50/50 therefore either person has the same chance of winning and youhave no advantage of knowing what the outcome maybe – heads or tails.

So how do people make a living through betting without gambling?

The successful punters make a calculated judgement on every bet they make, they willnever bet unless they feel the odds offer good value and they never ever bet for thesake of it. Hence they never even think about entering a Casino!

The key to success in betting is the ability to identify value bet situations where theodds available are greater than the true chance of winning and then to have thediscipline to methodically bet only when these situations arise.Do this then all the laws of mathematics and probability dictate that in the long term,you will make a profit.

I have been making money through betting for a couple of years now and I refer tomyself as a professional ‘investor’ not gambler. How many professional Lotteryplayers or roulette players do you know?? They are the gamblers.

Did you know that your chances of winning the UK national lottery are around14 million to 1? However if you did manage to win you would probably get nowherenear £14 million pounds.

The first thing you must understand is what makes an ‘unsuccessful’ gambler. I’mSure you can relate some if not all of the following statements to yourself. ThisInformation is absolutely vital to any professional.

The following chapter is taken from mathematician-betting.I highly recommend you check out the site, there is lots of useful information onprofessional gambling and horse racing. CLICK HERE

Top Ten Betting Mistakes

The first step to formulating a solution is to define the problem.The following points are areas of betting where many punters often get it wrong. Myviews arise from long personal experience and years of communication withsuccessful and unsuccessful punters alike.My aim here is to highlight these common areas of failure in the hope that I can speedup your learning curve towards successful betting.Read the following thoughts and you may be able to side step many of the potholesothers have fallen into in the past.

1) Failure to Use Betting Banks

Most gamblers fail to understand that the best method of achieving a healthy andsustained long term profit from racing is to set aside a sum of money away from yourmain finances, solely for the betting of horses.Whatever method or system you are using, whoever you are following or subscribingto or however your own bets are calculated, you are better off with a "Betting Bank"that has built -in advantages that can help you. It needs to be independent from yourown personal finances and needs to be protected from factors that can threaten it. Thiscan take a lot of emotion out of the decision making process. Emotion is a factor thatthreatens all punters.The size of your betting bank will of course be dependant upon your own individualcircumstances and free capital available. An analogy to the world of shares perhapsmay be that no financial advisor worth his salt would advise you throw all yourcapital into the stock market alone.The vast majority of punters fail to use any form of set aside bank. They bet randomlywith what ever money they have in their pocket at the end of the week or go in toodeep with stakes far in excess of their personal safety levels.A punter with a professional attitude will set aside what he can comfortably afford toinvest and then determine the best use he can make of that fixed sum of capital.

With a fixed sum of capital available you now move on to the next reason for failure.

2) Failure to Stake CorrectlyIt is vital that you consider your betting bank as capped in amount. You do not havean endless pool of resources to dip into. Betting by its nature carries inherent risks.These risks include periods of low strike rates and long losing runs. Your betting bankand staking should be adapted for the method you use.You must in advance, prepare yourself for the possibility of a worse than averagesequence of losers through adoption of a sufficient number of units in your bettingbank.Correct methodical staking in addition to the mathematical advantage, can also helpovercome the risk of emotional reaction to a sequence of unusually positive ornegative results.Take the Pricewise column in the racing post as an example. Long term if you couldget on at the advised prices, it would have returned a decent profit overall. During thistime however followers would have to have endured runs of up to 40 losers in a row!Despite the overall long term profit I suspect the vast majority of Pricewise followerswould have been terminated either by a failure to set aside a sufficient amount ofpoints or through failure to cope with the emotion of the losing run.We have long since established here a strike rate of about 35% on our Best Betselections and at an average S.P. of over 5/2 for each winning bet. We feel able toprotect clients banks as long losing runs haven't happened and the strike rate and oddshave been more than enough to ensure long steady and safe growth for your bettingprofits. That is in essence the key to winning money. Manage your accounts in a waythat protects them as far as possible from the element of risk that the game presentsyou.

3) Chasing LossesChasing losses at first sight may appear to be an easy way to guarantee an eventualprofit but the true story is it is a game for fools and statistically will not work unlessyou generate an overall level stakes profit.Chasing losses is a game for the ill informed who do not want to make the effort toseek value in their bets. Bookmakers have to priceup every race. Punters don't have to play in every race, they can pick the races theywant to bet in ,and that is the main edge that people fail to understand. If you have hada losing day, by attempting to chasing your losses you give up that advantage and betin the races that you should not be betting in. You are therefore betting the waybookmakers want you to and not in the way to win.Many punters will alter their stakes in the last race either to"chase" losses or "play up" winnings. Its no coincidence that thebookmakers have ensured that the last race on each day is often a handicap or one ofthe hardest races that day . There will be more racing the next day and the day afterthat. The secret is waiting for opportunities and only betting when you know you havecircumstances which favour you and not the bookmakers. You must never changeyour approach, or deviate from sensible staking as there is no such things as "The Last

Race".

4) Lack of Value AppreciationAppreciation of "value" in a bet is core to long term success.To profit over a long series of bets you must be betting at odds greater than the truechance of winning your selection have. To do this however over the long term, youneed to concentrate on each race individually and seek the value bet in that race.There is value to be had in every race. The key to it is understandingwhere that value is. Many times a punter will screw up a losing betting slip and say"At least I had some value". There is absolutely NO relationship between value andprices. A 33/1 chance may be diabolical value yet a very short priced favourite maybe supreme value. It does not follow that the bigger the price you take the better"value" you have . The value is sometimes clear but more often well hidden and ittakes a trained eye to see that.Everyone has this "Foresight" on occasions, it is a gameabout opinions after all and nobody is always right or wrong. Value can be the mostexpensive word in racing if you can't bet winner. The old cliché is that value is aboutbetting a horse whose true chance is better than its price reflects. That's only a smallpart of it. You also have to make sure that you bet in the right way and in the rightraces as that is the only way you can keep strike rates high and protect a betting bank.You should continually strive to increase value in your bets. Once you have aselection you feel is value do not just take the first acceptable price that comes along.Seek to improve it by shopping around the various bookmakers or try and top the bestbookmakers price by looking to the betting exchanges.Marginal improvements on odds on each bet you make can have a dramatic effect onlong term profits.

5) Greed For Instant WealthMany punters seek the thrill of a life changing bet that will produce huge gains ofinstant wealth for a small outlay. Bookmakers play on your natural desire and go outof their way to encourage you to bet exotic multiple selection bets that can in one hit,turn a small stake into a large sum.Professionals however rarely bet in multiples. Most professionals bet singles and steeraway from the multiple bets. Bookmakers relentlessly promote a host of multiple betswith exotic names such as Yankee, Lucky 15, and Goliath. The reason they areheavily touted is the profit margin in the bookmaker's favour increases the moreselections you add to your multiple bet.Say you select any random 5/1 selection. If you bet this as a single the bookmakermay have a theoretical edge in his favour of 15%. Taking two such selectionshowever and betting them in a win double, the bookmakers profit margin rises toabout 30% !Yes your win double can produce a much bigger win from the same stake howeverover the long term the bookmaker is eating away at your capital at a much faster rate.It is a waste of time debating which type of multiple bet is 'best'. Unless your

prediction skills are supernatural or you are incredibly lucky, then betting in singles ismore often the best option.You may say that many "Pros," do bet in multiples in bets like The Scoop 6 or theJackpot, but that's only because they know there is plenty of "Dead" money in anygiven Pool and they are betting against people who don't understand the dynamics of

those types of bet. There are times you should bet in multiples but in truth they arefew and far between.

You can't approach this as a "Get Rich Quick " scheme. It is a long slow process ofserious and sustained profit and not a game for Get Rich Quick schemers. If you goInto any Betting shop, have a look at all the posters on the wall offering "specialoffers", "enhanced terms " and "bonus offers". You will see they are all multiple bets.Bookmakers want you betting in multiples and it is easy to see why . They carve mostprofit from them. You never see a Bookmakers promotion offering extra's on a win oreach way single. Askyourself why .

6) Lack of DisciplineLack of Discipline is the big hurdle for punters trying to turn a losinghobby into a winning one. Bookmakers know that. That's why in everybetting office you can bet on numbers, lotteries, ball games, racing from all over theglobe with horses nobody has heard of before and even now computer animated, or asthey call it, virtual racing.Bookmakers just believe that its a case of punters sitting all day betting on what everis put in front of them and sadly they are right in many cases .They are simply thrillseeking and don't care what they bet on, as long as they can bet. There is nomethodology at all and many betting office regulars are simply a bunch of headlesschickens prepared to pay long term for the warming buzz of the occasional win.Even more experienced regular gamblers who are savvy enough to turn down betsthat they know are stupid always let themselvesdown by continually bleeding their profits with a fun tenner here and a fun tennerthere.It takes great discipline to NOT bet at times. It takes discipline to walk away from ahorse when the price isn't right. It takes discipline to say no to that small fun bet. Ittakes discipline to keep your money in your pocket and deny yourself the emotionalbuzz of watching your runner.

Punters come in all shapes and sizes. Even the shrewder punters who could win at thegame, fall into the trap of lack of disciplineof study. After a winning period they forget that what made them winners in the firstplace, was the effort they put in. They fall victim toover confidence, laziness and indiscipline.Being a long term successful punter is like swimming against the tide. It takes aneffort to stay still, even greater effort to move ahead and as soon as you relax or slackoff you start to go backwards.

7) EmotionBetting is a lonely game. Its also a highly skilled game. Emotionundermines success in many ways . There is comfort in knowing that as a sheep whenyou are wrong it is not your fault as you were simply doing what everyone else wasdoing. With betting, the laws of market supply and demand, dictate that long term, thesheep will get fleeced. Emotion neutralises discipline and long proven successfulpractices. The result of any isolated race has little or no relation to races just beforethat or just after that . Races should be viewed in isolation from each other. We are all

emotional in betting but the players at the top of the tree have this down to a fine artand can control those emotions. Other punters have long since been conditioned bybookmakers to EXPECT to lose rather than win.They have an in built psychological factor that makes them feel likelosers and they have been conditioned to losing by years of doing so.Over 95% of punters are flawed emotionally. Examples of emotive gambling includepunters following a horse ,trainer or a jockey blind . The "Hype" horses are cannonfodder for emotional punters. They may also follow tipsters blind as they "hate" thethought of missing out on a winner.

They pay no attention to the changing conditions of a race that may follow nonrunners or the ground changing. They misunderstand confidence and can't cope with alack of confidence. Emotion also prevents people from advanced betting subjects suchlaying , hedging and arbitrages. Emotion forces some punters to bet horses withcertain names that remind them of loved ones. Names such as "Long Tall Sally " and"Susan's Pride " attract many to them just for a name that's relevant to them .Most punters have a grudge against their own money and winning and beingsuccessful is alien to them. Emotional punters lose their heads in barren times and failto capitalise on winning runs. They mess about with systems and staking plans thatmake no sense. The more emotion you can rule out of your betting , the moresuccessful you will become . You have to view everyone in the game as your enemyand as people trying to take your hard earned money away from you in the same wayas you would a pickpocket . Once you can master your emotions you have made thefirst big step to betting profitably .

8) The Grass is GreenerThe grass is rarely Greener on the Other Side. The truth is that the grass that isn'tworking for you has not been grown, cultivated or looked after properly. Manypunters change approaches and methods so quickly that they don't give any method atrue test . If they find a system that works they don't continue after a few bad results .It is the same as gamblers who write down every bet they have . Once they have a fewlosers they often lose the heart to do this and stop doing so and move on to anotherarea .They are like children with new toys at Christmas . They never stay with any methodlong enough to prosper . They always feel the" Grass is Greener" , when in truth the"Grass" they are using has been abused and left to deteriorate.

They want the next Big "new idea " or "method " and that doesn't work either as thefault lies not in the Grass, but the Gardener .They have no long term consistency in their betting and are constantly tinkering withwhat wasn't broke or moving on in search of the holy grail before a full evaluation ofwhat they are currently examining has been completed.

A competition to win best garden will be won by the person whocan spend most time in the garden and master its challenges, thegardener who is prepared to care about his garden and invest in the tools that will helphis garden grow and keep the weeds at bay.

It's the same with betting. You will do far better long term if you can make aconcentrated effort of learning and research in one key area rather than flitting fromthis to that.

9) LazinessMost punters are LAZY! They have religiously followed a doctrine of poor planningand lack of research. They refuse to study and spend hours looking at how they canwin at betting. They refuse to invest in the game and invest in their own learning .You cant refuse to spend money, just look at the racing for 30 minutes and expect towin long term. You simply can't get away with that in the hardest trade of all ,Winning Money at Betting. If it was that easy , then millions would do it .You musteither invest in your betting , or pay someone to do just that .Natural human tendency is to try and get away with the least amount of effort. Lazypunters are cannon fodder for the bookmakers. They make little or no effort in theirselection process nor make an effort to extract maximum returns from their bets.Those who put the most work in are the more likely to succeed.My philosophy is simple. I believe that if a bookmaker, journalist or odds compilerspends 3 hours on a race then I'll spend 6 hours on that race to gain the edge.The famous golfer Gary Player once said "The Harder I Work the Luckier I Get".That is true about both golf and betting .Most people can't spend 12 hours a daystudying betting as they have families, jobs, commitments and lead their own lives.That is what you pay us for. We do that study for you and re-invest money in ourbetting so that we can find every edge possible to Help You Win.

10) Stupidity!Amazingly most punters fail to learn from their mistakes. They continue for yearsmaking the same basic errors time and time again. Pure stupidity.Strive to improve your betting performance by continually learning from the mistakesand weakness is your game.Your bookmaker may have been laughing at you for years. You have it in your powerhowever to improve your betting and hopefully wipe that smile from his face forgood.

Let me give you an example of a gambler and a professional investor.

2 friends of mine ‘Ben’ and ‘Rob’ walk into the bookies. Both men look through thecard for the next horse race and after 5 minutes Ben finds a horse that he fancies andplaces a bet, however Rob decides not to bet on this race and instead starts to lookthrough the next race. As it happens Ben’s horse won so he immediately picked ahorse in the next race and placed his previous winnings on it. Rob on the other handstill hasn’t selected a horse, in fact he didn’t find one until the 4th race. By this timeBen had lost his winnings and decided to have a bet on the dogs. He chose trap 4 asthis is his favourite number, his dog finished 3rd so Ben was now down for the day.Ben was not happy about this so he decided he would try to win back his money bybetting on the odds on favourite in the next race. ‘Dead Cert’ he thought to himself.The horse has been backed in and is now 8/13 so it must be good. Ben places £40 onthe horse and waits anxiously for the race to start. As it happens Rob also has a bet inthis race, but not on the favourite. Rob has took his time and realised that there areonly 8 runners in the races but just enough to get paid a place for the first 3 finishers.He also discovers that the favourite has never actually run on soft ground and wasrunning in a higher class than its previous race. Therefore Rob placed an Each Waybet on the 3rd Favourite at 10/1 who’s trainer was currently in very good form. Robnew that he had found a good value bet and it wouldn’t matter where it finishedbecause if he always has a good value bet he will always make a good profit in thelong run.

The race finished with the favourite finishing 2nd and Robs horse 3rd. Ben wasdevastated and decided he’d had enough of the horses so he went on the roulettemachines instead. Rob was quite pleased as his horse got a place therefore making asmall profit. Rob decides to call it a day and leaves the bookies. As he leaves Ben hasjust hit his lucky number on the roulette and wins £34, he is very happy with this anddecides to bet £4 to round it up to £30, which he will then withdraw if his next betloses. His bet did lose and Ben took £30 and left the bookies quite pleased as he hadjust won back most of his money lost on the previous horse race. However Ben wasstill around £35 down on the day.

Ben puts his £30 back in his wallet and heads off to the pub, however Rob puts hiswinnings into his separate pot, ‘his betting bank’ that he uses solely for bettingpurposes. He also makes a record of his days bets. By the end of the month Robknows exactly how much he has made or lost, where as Ben doesn’t have a clue, hethinks he is about evens but really he is quite a lot down.

I don’t need to ask you which of the 2 is a gambler and which is a professionalInvestor as I’m sure you can easily identify between the 2.

To play or not play

In this section I am going to identify which sports/games events etc you should beConcentrating on and the ones you should avoid like the plague.

The Don’ts – Never Bet on these.Never play Casino games, e.g. Roulette, Black Jack, Craps, Slots, etc

All Lottery games, scratch cards are a no go.

Never bet on the advertised football specials in your bookies, I mean the onesthat say something like ‘Lampard to score first and England win 3-1’ 33/1,These are put in front of you for a reason, they look very appealing and youthink its worth a couple of quid, well it isn’t. The bookies are not daft; theyhave done their research and offer you terrible odds.

Lucky 15’s and all of the other types of slips that you can fill out asaccumulators etc. Again they are plastered all around the betting shop for agood reason. Avoid them.

Any sport you are unfamiliar with, especially worldwide sports such asbaseball and American football, unless you have a good understanding ofthem.

The Do’s – On your way to becoming a pro investor

Horse Racing, there are certain aspects of Horse Racing that are good andsome that aren’t. A lot of professionals suggest you avoid all odds onfavourites, however this is not quite true, although I rarely bet on them, therecan be value found sometimes.

Football, some people make their entire living on football alone, there are lotsof different markets you can bet on.

Tennis, Cricket, Snooker – with these sports a lot of money can be made bytrading, by this I mean backing and laying the same selection and takingadvantage of the movements in the odds to guarantee a profit. More on thislater.

Greyhound Racing – Although I don’t bet on the dogs myself I know a coupleof people who make very good money doing so.

Motor Sport, again not something I am into but is good for making money.

The Betting Exchanges

If you want to make a living from betting you absolutely must have an account withBetfair. Betfair is the biggest betting exchange in the world and it allows you to betagainst other people, meaning you get better odds as there is no bookmaker and youcan also Lay an event. For example you can bet against a horse winning just like thebookies do.

You can learn more about Betfair by visiting their site http://www.betfair.com

Getting Started

The first thing I recommend you do is to wipe clean your head of any previous badmemories you may have surrounding betting, and forget what you may have learnt inthe past, however, do keep your experience on hand as you will need more disciplinethan you have ever had before.

Decide how much money is a realistic target for yourself, this maybe a couple ofhundred pounds per month to pay the bills or it may be a couple of thousand toreplace your income, whatever it is write it down on a piece of paper.

Now write down how much money you have available to bet with (your betting bank)

Multiply your available funds by 10% (e.g £1000 funds x 10% = £100)

This is the figure you should be aiming to make per week, if it’s a lot less than yourtarget figure you will have to reinvest your winnings back into your betting bank for awhile, everything you win is added to you bank to make it bigger, soon you will haveenough to reach your monthly target.

I also suggest you open a new current account with your bank and use this entirely forbetting purposes only.

You will require some sort of spreadsheet program such as excel to keep a record ofall your bets – and I mean all of them!

Once you have everything set up you need to create a portfolio, by this I mean anumber of different methods to generate your income – we never put all of our eggsinto one basket.

Portfolio

When creating your portfolio you need to spend time testing different systems andstrategies until you find the ones that make a profit. You are looking for around 4-6different methods.

Below I have included a couple of very good systems that I use myself that actuallyguarantee you a profit and are a must for any pro gambler.

1) This is a system that I have been using since 2005 and must be one of the bestand most consistent strategies out there. It uses betfair and price movements todetermine the bets and then uses a very clever method of increasing profits.

I highly recommend you check it out – http://www.betexprofits.net

2) Another method of guaranteeing a profit is ‘Arbitrage betting’. Although I donot really use this method myself it can be very lucrative if you have the timeeach day to follow the process. Basically you find a betting event where 2different bookmakers have different opinions on the outcome and the oddsgiven allow you to bet on both outcomes and guarantee a win regardless ofwho wins.

3) Use your own knowledge to find bets, remember, you are looking for valueand you must keep your discipline at all times. You will be surprised at howwell you can do if you avoid the ‘top ten betting mistakes’ above.

4) Football betting – Football can be a very good method of making money and Iuse it quite a lot to generate my income. There are hundreds of differentmethods and systems when it comes to football but there are a couple thatstand out from the rest.

One of the methods I use involves combining a number of selections together, it iscalled ‘dutching’ basically you choose a number of different selections and combinethem together to make 1 bet. E.g. If there are 9 horses in a race you canselect 4 of them, calculate the odds and work out the correct stake you need toplace on each of them to make a level profit if any of them wins.

Here is some more info on Dutching and a very useful calculator

'Dutching' (reputedly named after Al Capone's accountant who liked to use thismethod to back horses) is an excellent way of staking more than one horse in a racesuch that if any of them win then the return is the same no matter who wins. This is apowerful tool which should always be at the heart of any punter's armoury.Dutching techniques are used when one analyses a race to find two, or more, stronghorses in the race. One then has a variety of options. The first, and simplest, is toleave the race alone. The second is to try to work out which of these candidates is theone to back or, thirdly, one can 'Dutch' them sp that if any of the these horses win thena profit can be made.This Dutching calculator, despite its simple interface, has a number of features:

- The prices can be entered to either the Decimal format (as seen on the exchanges)or in Fractional format (as used by bookmakers). If the price entered has a '/' (e.g.100/30) then the Decimal format is assumed.

- Unlike most other Dutching calculators one the user can choose the answerrequired. With our calculator the user can choose between the "I have a £100 to placeon this race, how do I divide it up?" option and the "I would like to win £100 on thsrace, if successful, how much do I stake on each horse?".

- The calculator works out the profit (on a successful bet, of course) and the ROI%(Return on Investment) so that the user can work out if this Dutching bet is going tobe(a) profitable, as a negative profit is not what anyone wants, and,(b) worth the risk.

Click Here for the Dutching Calculator

5) PLACE Betting – Another fantastic way of making money from horse racing is‘place betting’. This is where we are betting on a horse to finish 1st, 2nd or 3rd, and westill get paid the same. This is different to E/W betting. The best ‘place system’ I haveused is Place Bet Pro – http://www.placebetpro.com

You can also view our system/tipster reviews athttp://www.betinfo24.co.uk/resources.html

Betting Banks and stakingOne of the most essential factors for any professional gambler is their betting, as Ihave already mentioned, it is imperative that you separate your personal funds to yourbetting funds.

Once you have your betting bank there are a number of different ways to use it. Youcan’t just go placing any amount of money on a horse, football match etc…. You needto follow an appropriate staking plan, below are a couple that I use myself.

The following section is taken from http://www.ukhorseracing.co.uk

Staking Plans

This section should really be called "What is a Staking Plan, and do I need tobother?". We have placed this discussion in the New To Racing section of the UKHorse Racing site because this is one of the most important cornerstones of successfulhorse race betting.A staking plan is a method of controlling how much each bet should bet. There aresimple staking plans and there are more complicated plans. But at the end of the dayall staking plans have the same purposes

1. To ensure that the possibility of going bust is kept to a minimum. 2. To try to get as high a return as possible.

Staking plans vary in their complexity; from the exceedingly simple to thefantastically exotic and sophisticated. Feel free to select which one, or a combination,of those which suits you the best.

Do I need a Staking Plan?

Simply put; yes, you do. Human beings are notorious about being lazy, overoptimistic or fall foul of one of many of our many foibles which make up the humancondition. Without a staking plan it is so easy to see one's betting bank go under.We have seen people go bust (when one's betting account reaches zero) because theythought that they didn't need a staking plan. We have never seen anyone succeedwithout one no matter how disciplined they are or, more accurately, how disciplinedthey claim to be.

There are two aspects to successful betting; the first is to have the right selections.Without a decent set of selections one is never going to make a profit no matter whatone does. The other aspect is the money side of things; how much does one put ontothe next bet? This is the function of the staking plan; without this one could be placingthe wrong stake onto the wrong horse. Ultimately betting without a staking plan willnegate good horse selection.

Level Stakes Staking Plan

This is the simplest staking plan of all and is somewhat flawed by its simplicity. Theprinciple is that the total amount of funds is divided into a number of stakes and thatamount is staked on each bet from now to eternity.For example, if one starts off with £1,000 and one decides that this bank ought tocover 200 bets then divide 200 into £1,000 which means that one bets £5 on ever racefor evermore.The upside of this Staking Plan is its simplicity; one works out the amount to bestaked once. Then for the next umpteen thousand bets one places the same amount oneach one. The other major plus point is that if one has a sensible number of bets in thebank (in this example we have 200) then the chances of going bust, which is the primeconcern for a staking plan, is negligible. However, the downside is that this plan isrestrictive and it doesn't allow for the secondary concern; namely to maximise thereturns from one's betting.The only time we would recommend this staking plan is for newcomers to the worldof betting. Even after reading the papers and watching the racing with live moneyriding on the horses there is still enough for the novice to be aware of. Therefore, forsimplicity's sake we recommend this plan for the first couple of months until thenovice has got used to the other aspects of racing then can afford to divert some brainpower to the more sophisticated staking plans.We will say it here and will, without apology, say it again and again that one needs awide betting bank. By this we mean that the betting bank should contain enoughmoney to cover lots of bets. We suggest that a betting bank should contain 200 bets(this is sometimes called a 200 point betting bank). We would, if pushed, admit that100 points is suitable but there is no way in which we would go lower than this. A200 point betting bank containing £200 at the start this would mean staking £1 bets.Do not be discouraged by the seemingly low stakes.

If one's selections are more than half decent then the bank will grow. Remember thatthe prime directive of a staking plan is to prevent the bank from going bust.Sometimes one will see tipsters whom recommend that the subscriber follows a tenpoint betting bank. Do not listen; a ten point betting bank will, as sure as day followsnight, lead to a bankrupt bank. We know a number of professional punters and it canbe no co-incidence they all have a good sized bank and that none of them have tenpoint banks.Example of an initial £2,000 bank with 200 points/bets:

Bet Stake Result Odds Bank1 £10.00 Lost 3/1 £1,990.002 £10.00 Won 5/2 £2,015.003 £10.00 Lost 3/1 £2,005.004 £10.00 Lost 2/1 £1,995.005 £10.00 Lost 7/2 £1,985.006 £10.00 Lost 3/1 £1,975.00

7 £10.00 Won 9/2 £2,020.008 £10.00 Lost 4/1 £2,010.009 £10.00 Won 3/1 £2,040.0010 £10.00 Lost 2/1 £2,030.00

Percentage Point Staking PlanThis is the second simplest staking plan. After each bet's result is known (i.e. won orlost) then the amount to be staked on the next bet is the new size of the betting plandivided by the number of points within it.

The upside of this betting plan is that the prime concern is being protected even morethan the Level Stakes Staking Plan because if a losing run occurs the amount beingstaked gets less and less and it will take a lot longer than 200 bets before the bank iscleaned out.

The bad news is that if a losing run occurs (and they will do with alarming regularity)then when the run comes to an end, the recent deficit will take a lot longer to recoverbecause the amount placed on the eventual winning bet will be less than it ought.Therefore, we at UK Horse Racing feel that this staking plan is flawed because thesecondary concern, arguably, suffers by one being over protective to the primaryconcern.Example of an initial £2,000 bank with 200 points/bets:

Bet Stake Result Odds Bank1 £10.00 Lost 3/1 £1,990.002 £ 9.95 Won 5/2 £2,014.873 £10.07 Lost 3/1 £2,004.804 £10.02 Lost 2/1 £1,994.785 £ 9.97 Lost 7/2 £1,984.816 £ 9.92 Lost 3/1 £1,974.897 £ 9.87 Won 9/2 £2,019.308 £10.09 Lost 4/1 £2,009.219 £10.04 Won 3/1 £2,039.3310 £10.19 Lost 2/1 £2,029.14

Even though this is a simple example two points ought to be strikingly clear. First,using this plan will result in using all sorts of fiddly numbers involving pennies if thestakes are low. But this isn't the major criticism; it ought to be clear to anyoneinvolved in racing that one will have more losing bets than winning bets (a goodstrike rate is one winner in three or four) then this staking plan will gradually ensurethat the winnings won't be as good as they ought and even though that one will almost

never go bust with this method it could be argued that making a good profit will alsobe that much harder.

Clearly something else is required. A mixture of both, perhaps, which is where the

UK Horse Racing Staking Plan comes in.UK Horse Racing Staking Plan http://www.ukhorseracing.co.ukLet us be clear about this; we did not invent this staking plan it's just that werecommend it for those who follow our selections and this is the staking plan whichwe at UK Horse Racing use for ourselves.

The concept of this plan is simple; mix the stability of the Level Stakes Plan with theflexibility of the Percentage Point Plan but without its volatility then we come up withsomething that is robust and simple to use. We like simple plans because it means thatwe are at liberty to concentrate on other racing matters.

This plan works by dividing the initial bank by the number of points, or bets. Forexample if the bank held £2,000 and we want a 200 point bank then we would stake£10 on each race (£2,000/200).

So far this is exactly the same as the Level Stakes Plan but the twist is that when thebank rolls over (in this example after 200 points) then the bank's total is divided bythe number of points again. It is for this reason that the UK Horse Racing Resultspage is divided into 'banks'.

This method gives us the security of having a large number of points in the bank; evenwe can't imagine the odds on losing 200 bets in a row! In addition if the selections dowell then the bank grows and if there is a losing run somewhere in the bank (as theresurely will) then the amount staked doesn't shrink alarmingly.We like this staking plan because it's simple (it's made even simpler by the fact thatthe web site tells us which bank we are in!), it's secure and it's not as volatile as thePercentage Point Plan.

Again, go for a large amount of points (bets) within the bank. We recommend 200points in a bank; we, here at UK Horse Racing, used to use 100 point banks but wefound that even the slightest losing run would start to make us uncomfortable. Thewhole point of betting on racing, we feel, is to make a profit with the minimum ofstress and worry. A hundred point betting bank doesn't give us the comfort that twohundred points provides and, besides, we roll over a bank once a month. Isn't thatenough for anyone?Example of an initial £2,000 bank with 200 points/bets:

Bet Stake Result Odds Bank1 £10.00 Lost 3/1 £1,990.002 £10.00 Won 5/2 £2,015.003 £10.00 Lost 3/1 £2,005.00

4 £10.00 Lost 2/1 £1,995.005 £10.00 Lost 7/2 £1,985.006 £10.00 Lost 3/1 £1,975.007 £10.00 Won 9/2 £2,020.008 £10.00 Lost 4/1 £2,010.00

9 £10.00 Won 3/1 £2,040.0010 £10.00 Lost 2/1 £2,030.00

Level Stakes And Square Root Staking PlanWe know a few people who use this staking plan and the effects can be amazing. Theprinciple is easy; start off with a betting bank and initially bet to level stakes. Now,the twist is that when the bank is in profit (i.e. stands over the initial starting value)then the square root of this surplus is added to the stake.

This method offers the security of the Level Stakes Plan because if the bank dropsinto a non-profit period then the stakes are automatically limited. The secondarycriteria of a staking plan is well and truly met because if the bank is in profit thebank's funds can literally shoot up.The downside? None other than a calculator or a spreadsheet required. But a selectionsystem with a decent strike rate is required to make advantage of this staking plan.Example of an initial £2,000 bank with 200 points/bets:

Bet Stake Result Odds Bank1 £10.00 Lost 3/1 £1,990.002 £10.00 Won 5/2 £2,015.003 £13.87 Lost 3/1 £2,001.134 £11.06 Lost 2/1 £1,990.075 £10.00 Lost 7/2 £1,980.076 £10.00 Lost 3/1 £1,970.077 £10.00 Won 9/2 £2,015.078 £13.88 Lost 4/1 £2,001.199 £11.09 Won 3/1 £2,034.4610 £15.87 Lost 2/1 £2,018.59

Although this is a short example we hope that it does illustrate that once a series doesstart to have a few successes then the stakes and the bank starts to rise. And, if the

profit is wiped out then the stakes return back to the Level Stakes Staking Planmethod.

Point Chasing Staking PlanTo be honest we don't know what to call this form of staking plan. Perhaps there is aname for this plan but we call it "The Staking Plan That Scares Us Rigid" and is mostcertainly not for those who want a relaxing betting life nor for those who don't havenerves of steel and a very large bank behind them.

The concept is simplicity itself. One aims to make a point profit whenever a selectionwins. So, for the first race if the horse goes off at, say, 4/1 then a quarter of a point isstaked on the race. This means that if the horse wins then a point profit it made.

That's all nice and straightforward if each selection would produce a winner. And if itdid then we would be using the Level Stakes And Square Root Staking Plan beforereturning to our recently purchased island in the Maldives. So, what happens whenthat horse loses?In the above example the stake was 0.25 points and we have to get that back as wellas the point profit so for the second bet, which for example's sake, is evens and wewould then have to stake 1.25 points in order to gain 1 point profit. Now, if that oneloses then we will be looking to gain 2.25 points from the next race. And so it goeson.Given that it's not impossible to have twenty losing horses in a row before one comeshome as the winner. The price staked on that winning horse may well be astronomicaland when one looks at the net gain for that stake is one point then this staking planmay not suit most people.

The upside of this staking plan is that if you are confident of getting a winner at areasonable rate then this plan could be useful. But before venturing forth with thisplan it may be well advised to have a large betting bank (at least 200 points isrequired here) and to have one's nerves surgically replaced with tungsten alloy steelfibres.

Basically – NEVER EVER EVER EVER EVER CHASSE LOSSES

Daily Schedual

Here is an insight to a typical working day.

Study form for a couple of hours during the morning, using the racingpost web site,follow a couple of systems to find my selections and then apply my own knowledgeand views to see if the horse is worthy of a bet. I then write down my potential betsfor that day.

Important - I never place my bets until closer to the race time as I like to watch themarket movements, + the weather or non runners etc can have an effect on myselection.

Once I have done this I then look for possible bets for the system I mentioned earlier(number 1)

During the afternoon as well as placing my bets I also look at any Football fixtures forthat day.

After the racing has finished I enter all of my bets and info into my ‘record sheet’http://www.ukhorseracing.co.uk/tools/UKHRTemplate_001.pdf

If there is a football game on during the afternoon I will use various tradingtechniques and bet in-running.

If I am having a terrible day I don’t go chasing losses and start increasing my stakes,this is the worst thing you can do and must be avoided at all times.

Free Sites

Here is a list of FREE sites that I highly recommend for various reasons:

www.oddschecker.com - this is essential for any professional gambler as you canquickly find which bookmaker is offering the best odds, by getting the best odds canmean the difference between making a profit and a loss over a period of time, it alsoindicates which horses are been backed in/out etc…

www.adrianmassey.com - This site gives free horse racing ratings on most raceseveryday. Can be very useful when selecting horse.

www.betinfo24.co.uk - They give free tips on various sporting events and are verygood, I use them to trade certain selections. E.G. They give a horse to win, I back itand then wait until the odds shorten a bit then I can Lay it off for a profit.

www.racingpost.co.uk - Another essential site that cannot be dismissed, I use theracing post site to study form on every race I bet on.

http://www.ukhorseracing.co.uk - Great site for tools, help, systems etc

Conclusion

I hope you have found this short guide useful and informative, please remember totake everything I have mentioned into account. Never bet with money you can’tafford to lose and be sure to read over the top ten betting mistakes section a few times.

With gambling you never stop learning, you may not succeed at the first hurdle but asthe old saying goes, ‘If at first you don’t succeed, try try again!!’

This guide was brought to you by http://www.betinfo24.co.uk

http://www.betinfo24.co.uk/resources.html